Aegon Rising Star Insurance Plan
Aegon Life Rising Star Insurance Plan is a child plan which helps you systematically create an investment corpus for supporting your child’s dreams and aspirations. The plan provides you with a triple life cover benefit against your life till your child attains the age of 25 years. Moreover, the plan offers 4 different fund options along with an auto-rebalancing option to provide you substantial flexibility to invest your hard-earned money as per your risk profile and investment style. The plan takes care of your liquidity requirements by way of partial withdrawals and systematic partial withdrawals options.
Best Features of Aegon Life Rising Star Insurance Plan
The best features of the Aegon Life Rising Star Insurance Plan are as follows -
- Fund Options- The plan provides 4 fund options namely Accelerator Fund, Stable Fund, Secure Fund, and Debt Fund to meet your varying investment portfolio preferences.
- Investment Strategies- The plan provides an optional investment strategy named auto rebalancing strategy which automatically rebalances your investment as per the allocation proportions chosen by you.
- Invest Protect option- This option helps in minimising the risks by systematically transferring your investment units from Accelerator Fund to Secure Fund during the last 3 years of your policy.
- Fund Switches- You can switch your investments from one fund to another up to 4 times in a policy year, without any extra cost.
- Partial Withdrawals- You can make partial withdrawals after the completion of the lock-in period of the first 5 years to meet urgent financial requirements, subject to a maximum of 20% of your fund value in a policy year.
- Systematic Partial Withdrawals- You can also choose to periodically redeem your fund units and get their proceeds credited to your bank account. The systematic partial withdrawals can be made on a monthly, quarterly, or annual basis for the duration of your choice.
- Top-up Premium- You can invest additional premium via top-up option with a minimum amount of INR 5,000 anytime during the policy tenure except the last 5 policy years.
- Increase in Sum Assured- The plan provides the flexibility to increase your basic sum assured anytime during the policy term, subject to underwriting.
Benefits of Aegon Life Rising Star Insurance Plan
Aegon Life Rising Star Insurance Plan offers the following benefits to its investors -
- Death Benefit
In case of an unfortunate death of the life assured during the policy term of the policy, an aggregate of the following is payable to the nominee as the death benefit -
- An amount equivalent to the higher of death sum assured or 105% of the total premiums paid till the date of death.
- An amount equivalent to the annualised premium is paid at the beginning of every policy year from the date of death of the life assured till the end of the policy term as an income benefit.
- The base fund value is paid at the end of the policy term.
In addition to the above, all the future premium payments will be waived off by Aegon Life Insurance as the Premium Waiver Benefit.
- Maturity Benefit
In case of the survival of the life assured till the end of the policy term, a maturity benefit equivalent to the fund value, including the top-up fund value, as on the maturity date is payable.
The life assured has the option to remain invested in the funds beyond the policy maturity date under the settlement option of the plan. By exercising this option, you can choose to receive the maturity benefit in instalments for the time period of your choice.
Aegon Life Rising Star Insurance Plan Eligibility
Aegon Life Rising Star Insurance Plan comes with the following eligibility conditions -
Eligibility Criteria For Aegon Life Rising Star Insurance Plan
Minimum Age at Entry
For parent (life assured)- 18 years
For child (nominee )-
Age of Life Assured
Minimum Age of Child
Age <= 40years
40 < Age <= 45
45 < Age <= 48
Maximum Age at Entry
For parent (life assured)- 48 years
For child (nominee)- 15 years
Age at Maturity
Up to 65 years
25 years less age at entry of the child in completed years
Premium Payment Term (PPT)
Same as policy term
Premium Payment Frequency
Yearly, Half-yearly, Monthly
Minimum Annual Premium Amount
Annual mode- INR 20,000
Other modes- INR 30,000
Minimum Basic Sum Assured
Age less than 45 years- Higher of 10 times of regular annualised premium or (0.5 x policy term x annualised premium)
Age greater than or equal to 45 years- Higher of 7 times of regular annualised premium or (0.25 x policy term x annualised premium)
Maximum Basic Sum Assured
Age less than 45 years - 18 times of annualised premium
Age greater than or equal to 45 years - 10 times of annualised premium
Aegon Life Rising Star Insurance Plan Fund Options
Aegon Life Rising Star Insurance Plan provides the following fund options to invest your hard-earned money -
Equity and Equity Market
Money Market Instruments
Aegon Life Rising Star Insurance Plan Review
Aegon Life Rising Star Insurance Plan is a child protection oriented unit-linked insurance plan which helps you ensure a financially stable future for your child. The plan provides 4 fund options and 1 option investment strategy to help you customise the plan as per your investment preferences. One of the significant features of this plan which makes it a reliable investment solution is its income benefit which ensures that your family faces no financial trouble when you are not around them.
Moreover, the plan provides an ‘invest protect’ option which helps you keep your investment safe even during market volatilities. Another notable feature of the plan is its settlement option which allows you to remain invested in it even after the policy maturity. Aegon Life Rising Star Insurance Plan is a suitable investment plan for individuals looking for a customisable child plan which comes with a host of benefits including systematic partial withdrawals.